Public Power Corporation S.A. (PPC) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of Public Power Corporation S.A. stock €6.43, price €22.58, upside -71.5%, quality 28 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?No
Good quality?No
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range €4.62 – €24.86 · fair‑value band €5.60 – €8.36 · the €22.58 price screens above the €6.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 22, 2026.
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Public Power Corporation S.A., together with its subsidiaries, generates, transmits, and distributes electricity in Greece and internationally. It generates electricity from lignite, natural gas, liquid fuel, wind, hydroelectric, and photovoltaic power plants.
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The company owns 60 power generating stations; and distributes electricity through 240,100 kilometers of medium and low voltage distribution network. It also owns approximately 162 kilometers of urban fiber optics network. In addition, the company offers financing services.
Public Power Corporation S.A. was founded in 1950 and is headquartered in Athens, Greece.
Stock analysis
Public Power Corporation S.A. (PPC) currently trades at €22.58, while our model-based Fair Value estimate is €6.43, 71.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €11.83 per share, and 2 of the 15 models we run sit above the €22.58 price.
Bear case: the Dividend Discount group reads lowest at €3.28, and 13 of the 15 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €5.60 (bear) to €8.36 (bull), the price of €22.58 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 28/100 (below-average quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Public Power Corporation S.A. reported revenue of €9.7B in FY2025 versus €5.7B in FY2021, a compound +14.2%/yr. Reported net income was €295M in FY2025.
Key figures
Market cap €13.6B Large · P/E ratio 17.5 · P/S ratio 0.88 · EPS (TTM) €1.29 · Dividend yield 2.7% · Net margin 5.1% · Return on equity 6.7% · Return on assets (EBIT) 3.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 52% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −29% fair-value upside, at −72%, PPC screens richer than that median.
Fair Value models
Bear€5.60Fair Value €6.43Bull€8.36
Price €22.58 · Upside -71.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.5671 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income€6.59€6.68€7.0776
EPV€8.82€11.43€13.6274
ROIC Compounder€8.83€12.26€16.0271
All 15 models by family
Earnings-Based
Graham-Dodd€3.42€8.55€11.0965
PEG = 1.0€1.56€2.24€2.9157
EPV€8.82€11.43€13.6274
Dividend Discount
Gordon GGM€2.28€3.87€5.6467
DDM Multi-Stage€2.28€3.28€4.2567
Multiples
P/E Multiple€6.78€9.04€11.3063
P/S Multiple€6.40€8.54€10.6758
P/B Multiple€8.87€11.83€14.7855
EV/EBIT€17.06€26.39€35.7165
EV/EBITDA€22.17€33.19€44.2266
EV/Revenue€11.72€21.41€31.1152
Asset-Based
NCAV (Graham)€3.28€4.40€6.5754
Economic Profit
Residual Income€6.59€6.68€7.0776
ROIC Compounder€8.83€12.26€16.0271
Growth Earnings
Growth-Adj P/E€5.29€7.56€9.8367
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.8%
Start year 2020 (pandemic). Over 10 years: +5.4% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+42.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+39.4%
Dividend (yield on the price)2.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.39.4% vs 8.8%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 15%
AI conclusion: Accelerating renewable projects abroad linked to data center needs offers diversification upside, but weak profitability and high leverage limit durable advantage.
Main risk: Execution demands from new overseas renewable assets and partnerships represent the biggest risk, potentially straining the company's already high leverage and negative cash flow.
Public Power Corporation is accelerating renewable projects abroad and connecting its strategy to growing data center needs. That creates upside from diversification beyond domestic power supply yet requires careful management of new assets and partnerships. Will the benefits from these moves exceed the execution demands they place on the business?
Compare Public Power Corporation S.A. with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Renewable · 203 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside−71.5% · Bottom 25%
Profitability
Return on equity (12 months)6.7% · Above median
Return on assets1.0% · Below median
Net margin (12 months)5.1% · Below median
Operating margin (12 months)8.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)1.2% · Below median
Dividend yield (12 months)2.7% · Above median
Balance sheet
Debt / equity1.50× · Highest 25%
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
P/E (12 months)17.5× · Cheaper than median
P/B2.64× · Priciest 25%
P/S (12 months)1.42× · Cheaper than median
EV/EBITDA9.6× · Cheaper than median
PEG0.14× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 24
FUTURE (revenue growth)6· sector 8
PAST (return on equity)27· sector 13
HEALTH (low debt)25· sector 70
DIVIDEND (yield)53· sector 43
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Public Power Corporation S.A. Fair Value". https://www.fairvalue-calculator.com/stock/PPC.AT
Frequently asked questions
Is Public Power Corporation S.A. (PPC) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of €6.43 versus a price of €22.58, about −72% upside (overvalued).
What is the fair value of PPC?
Our model-based fair value for Public Power Corporation S.A. is €6.43 (as of Oct 22, 2026), built from audited fundamentals. The current price: €22.58.
What is the quality score of PPC?
Public Power Corporation S.A. has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Public Power Corporation S.A. (PPC)?
Our model-based price target is the fair value of €6.43 (as of Oct 22, 2026) from 15 valuation models. Cautious scenario €5.60, optimistic scenario €8.36. It is a calculation from audited fundamentals, not an analyst target.
What is the Public Power Corporation S.A. stock forecast for 2026?
Our models put fair value at €6.43, about −72% upside versus a price of €22.58 (overvalued). Cautious scenario €5.60, optimistic scenario €8.36. The calculation is refreshed regularly with new filings.
What is the revenue of Public Power Corporation S.A. (PPC)?
Public Power Corporation S.A. reported trailing-twelve-month revenue of about €9.6B (latest available figure, as of Oct 22, 2026).
Does Public Power Corporation S.A. pay a dividend?
Public Power Corporation S.A. currently shows a dividend yield of 2.66% relative to its recent price (as of Oct 22, 2026).
What is the intrinsic value of Public Power Corporation S.A. (PPC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Public Power Corporation S.A. it is €6.43 per share (as of Oct 22, 2026), against a price of €22.58. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Public Power Corporation S.A. stock overvalued or undervalued in 2026?
As of Oct 22, 2026, PPC trades above its calculated fair value: price €22.58, fair value €6.43, a gap of about −72% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PPC?
No. The price is what the market pays today (€22.58); the fair value is what the company's own numbers justify (€6.43). For Public Power Corporation S.A. the two are €16.15 per share apart. That gap is exactly why we show both numbers side by side.
How much is Public Power Corporation S.A. worth?
The market values Public Power Corporation S.A. at about €13.6B (market capitalisation, as of Oct 22, 2026). Per share that is €22.58; our models calculate a fair value of €6.43 per share.
What do the bullish and bearish scenarios say about PPC?
Our models span a range for Public Power Corporation S.A.: cautious scenario €5.60, base €6.43, optimistic €8.36 per share (as of Oct 22, 2026, price €22.58). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PPC?
Public Power Corporation S.A. trades at a price-to-earnings ratio of 17.5 (as of Oct 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €6.43 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 17.6 (reported for FY2025: 28.3). Other multiples: PEG 0.1, P/B 2.6, P/S 1.4, EV/EBITDA 9.6.
What is the PEG ratio of PPC?
The PEG ratio of Public Power Corporation S.A. is 0.14 (P/E divided by earnings growth, as of Oct 22, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Public Power Corporation S.A. (PPC)?
Balance-sheet figures for Public Power Corporation S.A. (as of Oct 22, 2026): return on equity 6.7%, debt of 1.50 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is PPC from its 52-week high?
Public Power Corporation S.A. trades at €22.58, about 9% below its 52-week high of €24.86 and 52% above the low of €14.87 (as of Oct 26, 2026). Distance from the high says nothing about value: that is what the fair value of €6.43 is for.
Which stocks are comparable to Public Power Corporation S.A.?
From the same area (Utilities) we also value China Yangtze Power Co, Huaneng Lancang River Hydropower Inc, Ørsted A/S, VERBUND AG, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Public Power Corporation S.A. stock attractive at the current price?
The data as of Oct 22, 2026: price €22.58, calculated fair value €6.43 (−72%), Quality Score 28/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PPC calculated?
We run Public Power Corporation S.A. through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €6.43, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.7 % above its aggregate fair value. Public Power Corporation S.A. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Public Power Corporation S.A. (PPC)?
The closing price on Oct 26, 2026 was €22.58. Our model-based fair value is €6.43, about −72% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Public Power Corporation S.A. right now?
The price sits above even our optimistic bull case (€8.36). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of Public Power Corporation S.A. (PPC) come from?
Earnings per share at Public Power Corporation S.A. grew +9.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.0 %, EBIT margin +6.8 %, tax rate +2.3 %, residual (interest, one-offs) +0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Public Power Corporation S.A.
How large is the market capitalisation of Public Power Corporation S.A. (PPC)?
The market capitalisation of Public Power Corporation S.A. is €13.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Public Power Corporation S.A. (PPC)?
The price-to-sales ratio of Public Power Corporation S.A. is 0.88 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Public Power Corporation S.A. (PPC)?
Earnings per share at Public Power Corporation S.A. are €1.29 (price ÷ EPS = P/E 17.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Public Power Corporation S.A. (PPC)?
The dividend yield of Public Power Corporation S.A. is 2.7% (payout 28.9%, on adjusted earnings, reported 46.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Public Power Corporation S.A. (PPC)?
The net margin of Public Power Corporation S.A. is 5.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Public Power Corporation S.A. (PPC)?
The return on equity (ROE) of Public Power Corporation S.A. is 6.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Public Power Corporation S.A. (PPC)?
On an EBIT basis the return on assets of Public Power Corporation S.A. is 3.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Public Power Corporation S.A. (PPC)?
The operating margin of Public Power Corporation S.A. is 8.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Public Power Corporation S.A. (PPC)?
Revenue at Public Power Corporation S.A. is growing +1.2% versus a year earlier (3y avg −4.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Public Power Corporation S.A. (PPC)?
Earnings per share at Public Power Corporation S.A. are growing −0.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Public Power Corporation S.A. (PPC) generate?
The free cash flow of Public Power Corporation S.A. is −€519M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Public Power Corporation S.A. (PPC) carry?
The net debt of Public Power Corporation S.A. is €6.4B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Oct 22, 2026